Bank of Montreal Can Increases Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Bank of Montreal Can boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,575,446 shares of the financial services provider’s stock after purchasing an additional 339,072 shares during the quarter. Bank of Montreal Can’s holdings in Brookfield Asset Management were worth $518,655,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BAM. FMR LLC raised its holdings in Brookfield Asset Management by 2.3% in the fourth quarter. FMR LLC now owns 19,646,285 shares of the financial services provider’s stock valued at $1,064,983,000 after acquiring an additional 447,642 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Brookfield Asset Management during the 4th quarter worth approximately $1,491,000. Wells Fargo & Company MN grew its position in shares of Brookfield Asset Management by 7.2% in the 4th quarter. Wells Fargo & Company MN now owns 650,628 shares of the financial services provider’s stock worth $35,268,000 after acquiring an additional 43,484 shares in the last quarter. Cinctive Capital Management LP bought a new stake in shares of Brookfield Asset Management in the 4th quarter valued at approximately $1,025,000. Finally, Geode Capital Management LLC raised its position in shares of Brookfield Asset Management by 31.3% during the 4th quarter. Geode Capital Management LLC now owns 2,116,337 shares of the financial services provider’s stock valued at $117,171,000 after acquiring an additional 504,478 shares in the last quarter. 68.41% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Stock Down 6.0 %

Shares of NYSE BAM opened at $44.21 on Monday. The stock has a market cap of $72.39 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.92 and a beta of 1.62. The firm’s 50-day simple moving average is $53.89 and its 200 day simple moving average is $53.75. Brookfield Asset Management Ltd. has a fifty-two week low of $37.29 and a fifty-two week high of $62.61.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. On average, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.75 annualized dividend and a yield of 3.96%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 132.58%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Brookfield Asset Management from $54.00 to $50.00 and set an “underweight” rating for the company in a research note on Thursday, March 20th. BMO Capital Markets boosted their price objective on shares of Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. TD Securities raised their target price on shares of Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, February 10th. CIBC upped their target price on Brookfield Asset Management from $63.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Moderate Buy” and an average target price of $58.04.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.